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Frequently Asked Questions
How can
we avail of a loan?
First requirement is a viable business/project
which is either agricultural or fishery related. Interested applicants can
visit our nearest office within the area where our operations officers
will evaluate the business/project. After passing the evaluation process,
applicant qualifies for a loan. Quedancor Operations Officers will assist
applicant in complying with the documentary requirements. Loan documents
will have to be accomplished and signed prior to the actual loan release.
How long will it take to process loan
application?
Processing takes 15-30 working days provided
that all the documentary requirements are complete.
How much can we loan?
Each credit and guarantee program has loan
amount ceiling. However, in general, the loan amount depends on the 5 C's
of credit - character, capital, capacity to pay, condition and collateral.
What is your interest rate?
Interest rates vary per program. But on the
average, interests range from 14-18% per annum. There are programs that
follow the market rates but in most instances Quedancor rates are still
lower than the prevailing commercial rates of the banks.
What is the term of your loan?
Loan term normally ranges from 6 months to 3
years. Longer term for long-gestating projects as in the case of high
value crops production are also provided. Nevertheless, if borrower can
fully settle his loan earlier than the maturity date, he enjoys rebates on
interest.
Do you require collateral?
Just like any financing institution, loan
securities are required. It can be any or a combination of the following:
To answer more of your
inquiries, feel free to
e-mail us.
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